Self-Storage Development Ramps Up in North Colorado

Two self-storage facilities recently opened in North Colorado and several others are under development or in the planning stages. NoCo Storage opened this month in Timnath, Colo., and Self-Storage at Centerra opened in Loveland, Colo., in September. The companies are responding to an increase in self-storage demand from residents and businesses, according to the source.

Two self-storage facilities recently opened in North Colorado and several others are under development or in the planning stages. NoCo Storage opened this month in Timnath, Colo., and Self-Storage at Centerra opened in Loveland, Colo., in September. The companies are responding to an increase in self-storage demand from residents and businesses, according to the source.

“We are expecting to fill up. We’ve done a feasibility study and [saw] storage-occupancy rates in the area are pretty high right now,” said Kristina Meyers, who owns the 227-unit NoCo Storage with her husband, Jeff. The facility at 4973 Goodman Road is about one and a half miles from the Harmony Road and Interstate 25 overpass. The facility has reached 10 percent occupancy since opening on Oct. 2, the source reported.

Self-Storage at Centerra opened Sept. 15 at 5225 E. 37th St., just south of the Fort Collins-Loveland Municipal Airport. Owner Jordan Todd plans to double the 500 units the property currently offers next spring, the source reported. The facility’s occupancy is about 30 percent. “Once we start the second phase, we anticipate the first phase will be full,” said Todd, who also owns Fort Collins, Colo.-based Alpine Moving Co.

Several other storage projects are in various stages of development in Fort Collins, Colo. Stan Scott, owner of Fort Collins Self-Storage LLC, purchased 6.5 acres of land earlier this year to build a storage facility and microbrewery. The project is expected to be approved by the city before the end of the year, Scott told the source. The development will include 80,000 to 100,000 square feet of storage space as well as a 5,500-square-foot microbrewery and taproom.

1640 Riverside LLC, owned by Corey Seitz, began construction on a 2.3-acre storage site near East Prospect Road and Riverside Avenue, also in Fort Collins. Expected to be complete next spring, the facility will contain 241 to 281 storage units, the source reported. Seitz plans to develop another 280-unit storage facility in the city next year. “The people that are rushing into the market who might be ready in a year or two might bring oversupply,” Seitz said.

One storage facility in Fort Collins closed earlier this year, shrinking the area’s self-storage supply, the source reported. Pedersen Toyota, a car dealership, razed the 680-unit Mini U storage behind its showroom to make way for a $7 million expansion. Pedersen purchased the 28-year-old storage facility five years ago.

Plans to demolish the 100-unit A Big A Self Storage facility to make way for a five-story, 299-unit student-housing project are on hold, the source reported. If approved by the city, the development would displace four businesses, including the storage facility at 2121 S. College Ave.

 

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